Manager - Internal Audit

About Company

The company is a financial services firm specializing in lending, credit, and other financing solutions for individuals and businesses.

Job Description

Roles and Responsibilities:

Audit Planning & Risk Assessment:

- Develop and execute risk-based audit plans covering Head Office departments, Regional Offices, and centralized operational functions.
- Conduct periodic risk assessments to identify key operational, financial, compliance, technology, and strategic risks.
- Ensure audit coverage aligns with organizational risk priorities and regulatory expectations.
- Assist in preparation of the annual audit plan and audit universe.

Head Office Functional Audits:

- Plan and conduct audits of key Head Office functions, including but not limited to: Credit & Underwriting, Operations, Finance & Accounts, Treasury, Risk Management, Compliance, Human Resources, Information Technology & Information Security, Administration & Procurement, Legal & Secretarial, Customer Service & Grievance Redressal, Business Strategy & Product Management, and MIS & Data Management.

Regional Office Audits:

- Conduct audits of Regional Offices to assess operational governance and supervisory effectiveness.
- Review monitoring mechanisms over branch operations and portfolio quality.
- Evaluate implementation of Head Office policies and procedures at regional levels.
- Assess controls over portfolio management, collections, delinquency monitoring, customer protection practices, and operational risk management.
- Review regional-level decision-making and approval processes.

Compliance & Regulatory Reviews:

- Assess compliance with RBI regulations, applicable laws, internal policies, and governance standards.
- Review implementation of regulatory guidelines across Head Office and Regional Offices.
- Identify compliance gaps and recommend corrective actions.
- Monitor adherence to audit and regulatory commitments.

Internal Control & Governance Assessment:

- Evaluate the effectiveness of internal control frameworks and governance structures.
- Review segregation of duties, authorization controls, maker-checker controls, and system access controls.
- Assess enterprise-wide risk management practices and control environment.
- Recommend enhancements to strengthen governance and risk mitigation.

Fraud Risk Management & Investigations:

- Identify potential fraud vulnerabilities and emerging risks.
- Conduct special audits and investigations into suspected frauds, misconduct, policy violations, or financial irregularities.
- Perform root-cause analysis and recommend preventive measures.
- Support management in implementing anti-fraud controls.

Data Analytics & Continuous Monitoring:

- Utilize audit analytics and MIS reviews to identify unusual trends, exceptions, and risk indicators.
- Perform thematic reviews and continuous auditing activities.
- Analyse operational and financial data to improve audit effectiveness.
- Support digitization and automation of audit processes.

Audit Reporting & Follow-up:

- Prepare high-quality audit reports highlighting observations, root causes, risk ratings, and actionable recommendations.
- Present audit findings to senior management and audit leadership.
- Track implementation of corrective action plans.
- Monitor closure of audit observations and validate effectiveness of remediation actions.
- Escalate critical risks and unresolved issues to appropriate management levels.

Stakeholder Management:

- Work closely with business heads, regional managers, and functional leaders while maintaining audit independence.
- Facilitate discussions on audit findings and process improvements.
- Coordinate with external auditors, regulators, and inspection teams when required.

Team Leadership & Development:

- Lead and supervise audit assignments and audit team members.
- Review working papers and ensure adherence to audit methodology.
- Mentor and develop audit staff.
- Promote a culture of continuous improvement and professional excellence.

Key responsibilities include:

- Evaluating adequacy and effectiveness of internal controls.
- Reviewing compliance with approved policies and delegated authorities.
- Assessing process efficiency and operational effectiveness.
- Identifying process gaps, control weaknesses, and areas of improvement.

Key Performance Indicators (KPIs):

- Completion of audit plan within approved timelines.
- Coverage of key Head Office and Regional Office risks.
- Quality and timeliness of audit reports.
- Reduction in repeat audit observations.
- Timely closure of audit findings.
- Effectiveness of recommendations implemented.
- Identification of control weaknesses and fraud risks.
- Stakeholder feedback on audit quality.

Educational Qualifications:

- Mandatory: Chartered Accountant (CA) / Certified Internal Auditor (CIA) / Certified Information Systems Auditor (CISA).
- Bachelors degree in Commerce, Finance, Accounting, Business Administration, Economics, or related discipline.
- MBA (Finance), CMA / CPA or equivalent professional qualification.

 

Mandatory Requirement

Primary Job Profile : Internal Audit

Technical Skills : Fraud detection, Risk assessment

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